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Credit unions don't enjoy an unfair advantage. What they do is reinvest in their members and their communities in a way banks often do not.
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Leaving credit unions exempt from the Community Reinvestment Act preserves a gaping hole in regulations designed to make sure that financial services firms make loans available in underserved communities across the country.
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Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.
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A representative of America's Credit Unions takes issue with a recent article suggesting that credit union commercial lending is excessively risky.
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The dark secret about credit unions is that while rules have changed to allow them to make more commercial loans, their ability to underwrite those loans at scale is lacking. When the credit cycle turns, there's going to be a reckoning.
This year's honorees demonstrate the courage and experience necessary to address the rise of digital commerce, AI, bank and fintech rivals.
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The Most Powerful Women in Credit Unions honorees discuss their response to inflation and the challenges facing underserved communities.
November 19
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Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump administration will favorably alter the agency's future.
November 18
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The number of banks announcing plans to sell this year reached 108 by the end of Oct.; Truist Financial promoted Brad Bender to chief risk officer; Old Point Financial made Cathy W. Liles its chief financial officer; and more in this week's banking news roundup.
November 15
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DFCU Financial reached a deal to acquire Winter Park National Bank in the Orlando metropolitan area. It was a record 20th credit union-bank merger of the year.
November 8
The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.
New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.
The 70 institutions on this year's list create a great work environment by offering robust benefits, recognizing a job well done and providing clear communication from the C-suite.